Rex today announced that it has received a pre-assessment clearance from the Australian Competition and Consumer Commission (ACCC) for the purchase of National Jet Express Pty Ltd, the regional services arm of Cobham Aviation Services Australia (Cobham), as announced in our media release of 15 July 2022.
In its letter of 26 July 2022, the ACCC states:
“The ACCC has considered the information provided by Rex and Cobham as well as other information it has before it. Based on that information, the ACCC does not intend to conduct a public review of the proposed acquisition pursuant to section 50 of the Competition and Consumer Act 2010 (Cth).”
The purchase will now proceed once the Foreign Investment Review Board (FIRB) has given its approval. Application to the FIRB was lodged last week and Rex is hopeful that an outcome would be forthcoming within one to two months.